Providers Take Action to Meet Declining Reimbursement Challenges

J.K. Rowling, author of the Harry Potter series said, “It is a strange thing, but when you are dreading something, and would give anything to slow down time, it has a disobliging habit of speeding up.” For physicians and healthcare providers, her words are spot on timely. Every day we work with healthcare providers who are confronting growing concerns about how they will stay viable and competitive amid concerns about declining reimbursement's and healthcare reform.

A recent survey conducted by Provista of physician practices, ambulatory surgery centers, cancer centers, and home health agencies asked providers about how they are meeting the challenges brought on by healthcare reform. A majority of respondents (70 percent) said they are likely to take steps to actively cut costs in response to declining reimbursement and other changes.

The survey showed that all respondents pegged declining reimbursement as their paramount problem, yet the steps being taken to combat the problem varied significantly from expanding and diversifying services, to joining a hospital or ACO, to taking down their shingles and walking away from medicine altogether.

Our most successful clients are expanding their service offerings and making staffing adjustments that focus on growth. For many, that meant better-sourcing their revenue cycle management functions to The Cvikota Company. The complexities of practice management require a new and more complex skill set that is increasingly hard to come by and providers simply don't have the time to grow their practices and actively manage billing and accounts receivable, not to mention giving high level attention to credentialing, contracting, reimbursement analysis, and compliance.

Find out how the revenue cycle management experts at The Cvikota Company can strengthen your bottom line and help you navigate the troubled waters ahead. Write us at contact@cvikota.com or call 800-657-5175.